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The rising inflation has become an increasing concern for countries globally, most especially the United States. 

Over last year, the United States has experienced one of the sharpest rises in consumer inflation. Lawmakers globally have claimed that they didn’t expect the inflation; however, people usually draw their attention towards the seeming unrestricted money printing spree throughout the pandemic.

In 2021 alone, the United States has printed 35% of the whole U.S. dollar in circulation. This has played a huge role in record-breaking inflation. 

In November, market experts expect a 6% increase in the consumer price index (CPI). This value would be the highest in forty years. The CPI statistics will be released on December 10.

Biden’s administration revealed that the $1.85 trillion spending program and tax cuts would reduce inflation effects. However, experts have doubts about the idea of printing more money.

Markets of Europe and the Asian Pacific opened with caution and recorded a broad decline across the board. South Korea’s Kospi was down by 0.64% to 3,010.23, Nikkei 225 of Japan dropped 1% to 28,437.77, while Kosdaq fell 1.1% at 1,011.57. Furthermore, Pan European stock index STOXX 600 was down 0.4%, while healthcare, retail, and technology stocks also experienced a loss.

The crypto market experienced a minor bounce back from last night, in contrast to the typical decline seen in traditional markets. The price of Bitcoin recovered above $48,400 after dropping to a daily low of $47,358. Ether also recovered above $4,100 after seeing a daily low of $4,026. With increasing inflation and the omicron variant causing panic in traditional markets, Bitcoin can rise again as the inflation hedge.

“Rich Dad Poor Dad” author Robert Kiyosaki has warned of the incoming market “crash and depression” resulting from “fake inflation.” Kiyosaki blamed Biden’s administration and the Feds for pushing the fake inflation on people.

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